By Greg Hunter’s USAWatchdog.com - January 31, 2026

Ed Dowd of PhinanceTechnologies.com warned in December we were “At the Beginning of Credit Destruction Cycle.” Renowned hedge fund BlackRock was the latest victim of credit destruction with this week’s headline that said, “BlackRock cuts value of private debt fund by 19%, waives fee.”

Dowd is right—again.

It’s going to get a lot worse, according to Dowd’s latest report called “US Economy Outlook 2026.” Dowd says, “This is a big call, and what is going to happen does not happen that often. We will try to call the bottom in the future, but right now, I have never seen risk like this before in my career. . .

[SNIP]

What is Dowd not worried about? Despite the big gut punch in the gold and silver market on Friday, Dowd says, “I am still bullish on gold and silver, and my target on gold by 2030 is $10,000 per ounce. It’s going to consolidate now. Is it the end? I don’t think so. There is a veracious appetite from big banks for gold and, in the case of silver, industrial users for the metal.”

There is much more in the 44-minute interview.